Hello Monkeys, need some help/advice here.
1.) Graduate from non-target school (Drexel) in 2014 with 3.5/4.0 GPA, majors accounting/finance 2.) Floated around from a few companies doing accounting work for approx. 2 years with 6 months at each one, none were fortune 500 companies 3.) Completed all 4 sections of CPA exam, still need the one year experience under a CPA to receive license 4.) Prepping to sit for the CFA exam in December 5.) Currently in a sales role for a startup while I'm trying to get my shit together
I'm looking for some advice on how to make it into an IB firm, most likely a boutique at this point. Should I sit for the GMATs and attempt to go to grad school or should I pursue another license such as the CFA. I've worked in accounting and honestly it is not the career path I ever wanted to take I just wasn't able to land an analyst job. Now I'm pushing hard to get into finance and am looking for advice on what the next steps should be that I take. Where are god places to network? Which firms should I target? ( I live in Philadelphia). Anything would be great at this point, even if it's just some words of encouragement.
Thanks!
I'm going to take a crack at providing you some advice I hope you'll find useful.
Right from the start you need to ask yourself the question, "why finance and why IB?" You seem to have pursued the accounting path for several years and now you want to make a change. People will wonder if you don't do your research into the industry you're getting into, and if you'll behave the same way in the future. (i.e. getting into IB).
1. The school you went to won't matter now. This is the past, embrace your 3.5. (Although I would remove the finance part of your degree - creates uncertainty about your career motives) 2. The constant change in jobs can be your adv. and disadv. (be prepared to answer why you didn't work for a Top 4 accounting firm). The adv. in this case can be you learned something from each position and have corporate experience. 3. Again, this is questionable. Why did you pursue your accounting career this far only to throw in the towel to pursue <abbr title="investment banking">IB...? You're going to get hammered on this point.
4. This is a great designation, but you already completed a finance degree (half or portion whatever it is). So why are you doing this? Gives me the impression you don't know what <abbr title="investment banking">IB is about. I would expect someone to pursue the CFA if they are going into equity research, not IB.
5. Ok, you have a job which is good. Money is good.This paragraph continues to give me questions about your motives. Why the GMAT? You want to spend 100K on an MBA to "Break in?" Is that a wise financial choice when it doesn't seem like you've done much work up to this point. (Not trying to be hard but these are the questions and opinions you're going to come across - better to be prepared for them). IB recruiting wants to be assured that IB is for LIFE (Trademark that - lol) - But in all seriousness the competition is too fierce.
You are in Philadelphia - Wharton School. There are plenty of prof. and students that will gladly give you insight. (Do not waste their time - they will remember you and they talk). Use LinkedIn to search for contacts - but again be very very careful.
Having an accounting background is certainly a leg up. Most people wont question you on this knowledge but they will push you on valuations - LBO / M&A side of things. (Get yourself Investment banking by Rosenbaum and pearl)
Buy the guide on this website - it is F**tastic..
And the best advice anyone will give you: YOU WILL get rejected a lot, get used to it. Think of it as a way of separating the people that truly want it and those who don't.
Edit: Almost forgot: Best of Luck to you.
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